Weekly Roundup #76 - Artificial Intelligence, Augmented Intelligence & Social Local - The Digital Marketing, eCommerce & CRO Blog
Digital Marketing and Artificial Intelligence
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Weekly Roundup #76 – Artificial Intelligence, Augmented Intelligence & Social Local

First of all, you can find last week’s roundup on psychometrics, social media and fibre optics here. If you’re all caught up, then this week’s roundup includes:

 

58% of CMO’s to Invest in Artificial Intelligence

Thanks to the growing presence of technology, our digital footprints show an enormous amount of detail… The vivid picture of each consumer is the key to brands understanding and engaging their customers. The challenge for brands is in translating all of the intelligence into meaningful actions – using this to create new world touch-points driven by technology.

Marketers are at the forefront of leading brands through this digital transformation, along with the increasingly popular AI technology. AI, the software that has the ability to make decisions outside of the data strategy and rules, is able to form new solutions that give marketers the potential to meet the expectations for new means of consumer engagement.

AI will provide consumers with safer, easier and more productive online interactions. AI will also provide marketers with new tools for understanding and engaging their audiences through better understanding behaviour, mapping patterns and by serving content that is relevant to the intelligence gathered. The power of AI is well understood by marketers, with 58% of Chief Marketing Officers noting that within the next five years, companies will need to compete in the AI space in order to succeed.

AI is changing how online searches are made – AI is able to tailor the search results to best suit the customer, using personal information and digital history as well as specifics such as the time, their location and to some extent, their intentions. Search has evolved in other ways too – with screen-less interactions becoming more and more frequent, which sees consumers interacting through a bot, virtual assistant or other agent.

Voice search naturally encourages people to interact with technology in an informal, conversational tone that will also imply emotion. Voice search is powering machine learning that is creating technology that is both personal and predictive.

It is vital for brands to understand the changes that are happening with regards to the way that we perform searches. Marketers should give great attention to search within their overall strategies, as it will play a huge role in their customer engagement as well as their revenue.

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Further Reading:

Artificial Intelligence and SEO

The Psychology of Online Shopping

cart abandonment

According to the Baymard Institute, 67.45% of all online shopping carts are abandoned. Converting a cart into a sale is not easy, and so, beyond discount codes and flash sales, what can retailers do?

Psychology actually plays a huge part in converting a cart to a sale – especially considering that 95% of our decisions are steered by our subconscious. Applying simple changes to your site that follow some basic psychological principles could see great results. For example, adding additional pricing packages or including details on a products’ popularity have seen significant uplifts in sales.

Another tip is to provide clear information on what will happen when a customer clicks on a link, and giving precise information about offers as this appeals to the consumers need for certainty. Running user testing would pinpoint any areas that might create confusion so that they can be quickly fixed.

A common issue for customers is deciding between two similar options – this is where it is suggested to employ a decoy. This third option, or ‘ugly brother’ can strongly influence the consumers’ choice, as research shows that when presented with three options – where one is clearly the worst (and cheapest) – customers are most likely to pick the mid-range option as they feel that they are getting a better deal.

Consumers also show a preference for hyperbolic discounting, where an immediate reward is actually preferred to a delayed one of greater value. To take advantage of this psychological principle, retailers should provide instant small discounts and rewards with a time limit, such as ‘free delivery on all orders over £50’ or ‘10% off today only’. Offers such as these will incentivise consumers to make quick decisions rather than waiting for a larger discount.

By increasing your social media following it is possible to positively influence your sales, thanks to an idea called ‘social proof’. Social proof is based on the ideas that we are driven to conform, and that we are greatly influenced by others actions and decisions. Consumers will have greater trust in a brand that has a large following, so invest time into improving your social media presence.

Too much choice can lead to consumer anxiety, and feeling overwhelmed by a site will cause consumers to leave the page. One way to avoid this is to drastically simplify your options. Displaying your best selling or ‘new in’ options first will not only mean that you are showing your best products first, it also means that browsing will be more successful as you have subtly guided the customers eyes to the products that you would like them to purchase without having caused them any stress.

The descriptive text for each product needs to consider the consumer, as retailers are often prey to the ‘curse of knowledge’. Knowing everything there is to know about a product often leads to copy that is either over complicated or that has missed out on vital information. Be aware of the gap between your knowledge of a product and the customers. Put yourself in their shoes, and remember to write clear and effective text as well as highlighting USP’s and keywords.

Finally, consumers feel more confident about making a purchase when there is lots of information available about the item. The ‘information bias’ means that consumers believe they are making well-informed decisions, even if the information provided isn’t all that relevant in itself. Providing lots of details, makes the consumer feel secure in their choice, and should be done throughout the site including all products and offers. Retailers are well advised to provide several images that show a variety of angles, or even a video of the product. Employing these tips will see retailers have much greater results in converting a cart to a sale.

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The Importance of the ‘Local’ Social Media Presence

influencer marketing

Despite having multiple stores or locations, until recently, most business or brand’s social media presences have presented themselves as one unit. Typically, there was a single national brand account, and social posts were all generated from that account.

However, more enterprises are creating local pages – which has resulted in much higher customer engagement. Presence and social media management platform, MomentFeed, analysed aggregated customer data from more than 50 of their clients from October 2016 – April 2017. Each of their clients had a singular, national account as well as individual store pages.

MomentFeed reported, “an astonishing 84.8% of all consumer impressions happen on assets that represent individual stores, showrooms and restaurants. Just 15.2% of impressions happen on brand or corporate assets – including the brand’s own website.”

This research shows the consumer’s preference for locally relevant pages versus the national or more ‘corporate’ pages on social media sites. It is interesting to note that most of this engagement is happening through smartphones, and most traffic and impressions are coming from just five sources – Facebook, Google, Apple, Yelp and Bing.

Data from Facebook showed that there were 25 times more impressions taking place on location-based Facebook pages than on corporate (brand) Facebook pages. The reason for this preference is that local content is believed to be more relevant to the customer, for example information that is specific to each store such as offers, opening hours and reviews, which is information that may be helpful in making a purchasing decisions.

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The Role of Augmented Intelligence in Marketing

Augmented Reality in Marketing

Data helps businesses reveal their customer’ desires, preferences and needs, so having access to large amounts of good quality data is paramount. In our digital age, a company’s competitive advantage is how it uses data to connect customer experience to value. Marketers will find greater success when working with intelligence tools to create a customer-centric approach for their business.

Augmented Intelligence gives marketers the ability to navigate through large quantities of data in order to identify patterns, recognise trends and anticipate the next-best action. Augmented Intelligence ingests both structured and unstructured data and continuously learns from it, eventually inferring meaning and logic from the glut of information.

Marketers using Augmented Intelligence systems can uncover new levels of actionable insight, they can deliver hyper-personalised experiences that their consumers demand and they can build lasting customer engagement across all channels.

When thinking about incorporating Augmented Intelligence into your company it is important to remember that now is better than later. Do not put off data analysis because you have poor quality data – the imperfect data still provides companies with actionable insights, and using the data will mean that quality issues can be identified and improved going forward.

Gathering data on your consumers requires their trust. Data is a currency and customers have become more and more aware of the importance of data to marketers, and what they can expect in return for sharing their information. New EU legislation, such as the GDPR, will only increase the awareness of this in the coming years. Trust between brands and their customers can be built through great marketing; delivering personalised and creative experience that are relevant to the customer will ensure their continued loyalty – and data…

Building trust is also the responsibility of the brands employees – having engaged and empowered employees will create a productive and efficient company. One effective way of ensuring employee engagement is to make the power of the organisation’s data accessible at all levels of the business. Using intelligent systems that automate mundane or simple tasks, and that prompt employees with next-best-actions and the correct and relevant information will drive performance and productivity.

The limitless possibilities of Augmented Intelligence will be more quickly and easily implemented should companies start moving towards this as soon as possible. Updating back-end processes now will enable deep access to information and actionable insights later on…

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The Marketing Round-Up: the Statistics of the Week.

Here we cover some of the best stats and insights from the world of digital marketing this week…

Mobile Traffic

Mobile traffic is at an all-time high in Europe as smartphones accounted for 31% of all European web visits in 2016, a 22% increase on 2015 – with the top-performing companies seeing 41% of their web traffic coming from mobile. The report from Adobe, which includes analysis of the top 20% of companies using Adobe Experience Cloud, also showed that desktop took 58% of browser traffic in 2016, which is down from 65% in 2015.

Voice Search

New research from Google has shown that voice search is influencing user behaviour, with 75% of consumers saying that they use mobile search more often because of the technology.

Google Shopping

Google Shopping ads represent the largest single source for visitors for online retailers, accounting for nearly 25% of all sessions across direct, paid and shopping search traffic. The report from Foundit reviewed over 60m shopping sessions across leading retailers, and also reported that search is the worst channel for bounce rate – with users typically viewing just two and a half pages before quitting. The bounce rates differed slightly between mobile and desktop, with 27% of mobile sessions browsing beyond the first page compared to 38% for desktop.

Brand Health

A study by Thinkbox has shown that TV sponsorship can improve brand health metrics – mainly thanks to the strong affinities that viewers have with their favourite programs. The research found that there was a 53% increase in ‘personality fit’ between viewers of a TV show and the sponsoring brand (when compared to non-viewers) and viewers were also far more likely to recommend the brand than those who didn’t watch the TV show.

eCommerce Sites

In a survey of over 1,500 online shoppers, 62% were shown to have a core group of ‘favourite’ online retail stores. The YouGov poll, commissioned by Apptus, also reported that younger shoppers were even more likely to stick to a narrow selection of sites, with 78% of 18-24 year olds, and 70% of 25-34 year olds staying loyal to a select few retailers. Shoppers said that in order to be tempted out of their routine retailers should offer greater value for money (66%) or should make it easy to find the products that they are looking for (48%) whereas only 4% pointed to ‘lifestyle content’ as a means of getting their attention and building loyalty with a new brand.

Dual Screens

Dual-screen habits are providing another potential avenue for retailers to capitalise on consumer behaviour. For example, data from eBay revealed that there was a huge spike in consumer spending during last summer’s sporting events – with searches for ‘Pinarello’ (the bike that Chris Froome rode during the Tour de France) rising by 62% on the final day of the competition, and searches for ‘cycling shorts’ and ‘road bike’ increasing by 46% and 71% respectively.

Uber

Uber has gained more customers than any other US company in the last year, with 26% of all US millennials having recently used the service. This upsurge in use has increased Uber’s Adobe BrandIndex ‘currency customer score’ by 8.2 points.

Cyber Attacks

Cyber attacks on UK businesses have increased by 52% in Q2 2017 – meaning that businesses saw almost 65,000 attacks in just three months. 68% of these attacks targeted connected devices such as networked security cameras and building control systems, however there was also a large increase in attacks on company databases that rose to an average of 105 attempts a day compared to just 14 attempts in the Q1 2017.

Online Security

New research has revealed that 67% of consumers are concerned about their online banking and shopping security, with one in four respondents being ‘very concerned’. With only 2% of consumers ranking transaction speed above security, it seems logical for retailers to implement greater transparency around their security practices as well as increasing the security steps in order to improve the levels of trust in online transactions.

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by:

Sebastian Paszek

Marketing manager

Controlling the chaos of the digital landscape, Sebastian is a multiplatform executive, project manager and photographer.